Indian lender ICICI Bank has launched an API Banking portal with nearly 250 virtual application programming interfaces (APIs).

The move will provide the bank’s partner companies with access to APIs across various categories and create new customer solutions.

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The ICICI Bank API Banking Portal includes APIs from several categories including payments, accounts & deposits and cards and loans.

Businesses, fintechs, corporates and e-commerce start-ups can partner with the bank to create and test applications.

The companies can also upgrade to the user acceptance testing (UAT) environment to carry out end to end real-time testing by signing a non-disclosure agreement with the ICICI Bank.

ICICI Bank executive director Anup Bagchi said: “ICICI Bank has a legacy of leveraging new technology to bring in path-breaking solutions for the banking industry. The API Banking portal is yet another initiative in this direction. It is envisioned to be the gateway for several prospective partner companies to tie-up with the Bank in a quick and frictionless manner.

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“The portal offers the largest array of instant APIs by any bank in one single place. We believe that the ‘ICICI Bank API Banking Portal’, will help foster rapid innovation and co-creation with partner.”

With the launch, ICICI Bank seeks to facilitate digital collaboration with partner companies and improve productivity. Business solutions can be developed in a few days, while a typical API integration takes few months.

It can be noted another Indian lender Yes Bank launched a banking API developer platform in November last year. Dubbed YES Fintech Developer, the platform hosts more than 50 APIs.